Global Food Truck Market Research 2024, Forecast To 2033
19 Mar, 2024
The food truck market surged from $3.73 billion in 2023 to $4.04 billion in 2024, boasting an 8.3% CAGR. Historical growth owes itself to diverse food options, urbanization, social media's rise, food-centric events, government support, and mobile food apps. Projections anticipate robust growth, hitting $5.37 billion by 2028 at a 7.4% CAGR. Upcoming trends feature health-conscious menus, tech integration, gourmet/fusion cuisine, and virtual food trucks.
Global Food Truck Market Key Driver
The increasing popularity of street food is poised to drive the growth of the food truck market in the foreseeable future. Street food, characterized by prepared, ready-to-eat offerings sold by vendors in public spaces, is often a more budget-friendly option than traditional restaurant meals. Food trucks have emerged as a favored method for delivering street food, providing advantages such as reaching a broader customer base and increased operational flexibility compared to brick-and-mortar establishments. As of 2023, Tastewise, an Israel-based AI-powered data platform for food and beverage, reported that approximately 3,274 restaurants feature street food on their menus. Moreover, social conversations about street food witnessed an uptick from 0.228% in December 2022 to 0.2733% in March 2022. Hence, the rising popularity of street food is a key driver behind the growth of the food truck market.
Get A Free Sample Of The Global Food Truck Market ReportGlobal Food Truck Market Segments
The food truck market covered in this report is segmented –
1) By Type: Expandable; Boxes; Buses And Vans; Customized Trucks; Other Types
2) By Size: Small; Medium; Large
3) By Application: Fast Food; Vegan And Meat Plants; Bakery; Other Applications
By Geography: The regions covered in the food truck market market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
North America was the largest region in the food truck market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in food truck market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major Food Truck Industry Players
KFC Corporation, The Fud Trailer, VS Veicoli Speciali, International Dairy Queen Inc., McDonald's Corporation, Jack in the Box Inc., Starbucks Corporation , Chick-fil-A Inc., Taco Bell Corporation, Bostonian Body Inc., Domino's Pizza Inc., Futuristo Trailers Manufacturer, United Food Trucks LLC, Baskin-Robbins Group Inc., Toppers Pizza, Mallaghan Engineering Ltd., Kogi Korean BBQ, Prestige Food Trucks, MRA Mobile Experiential, EasyTracGPS Inc., Cafe2U Pty Ltd, Roaming Hunger Inc., Kona Ice Inc., Custom Concessions , Food Truck Company B.V., M&R SpecialityTrailers And Trucks, MSM Catering Trucks Manufacturing Inc., Good Food Truck Company, World Street Kitchen
Get The Full Global Food Truck Market ReportFood Truck Market Overview
A food truck refers to a mobile eatery or restaurant that serves and sells food and beverages from a vehicle, typically parked in various locations. Food trucks are known for their flexibility, accessibility and ability to bring food directly to where people are, providing a unique dining experience. These mobile eateries have become a prominent feature of the modern culinary landscape, contributing to the vibrancy of local food scenes and providing opportunities for chefs, entrepreneurs and food enthusiasts to connect with their communities.
Food Truck Market Global Market Report 2023 provides data on the global food truck market market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The food truck market market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.